Regulatory Alerts2024-10-24 | 2024-24734Publication of Global Terrorism Sanctions Regulations Web General Licenses 30 and 31
The Department of the Treasury’s Office of Foreign Assets Control issued General Licenses 30 and 31 to authorize specific transactions involving entities blocked on October 7, 2024, under the Global Terrorism Sanctions Regulations. General License 30 permits the wind down of transactions involving designated blocked persons and their majority-owned entities, while General License 31 authorizes the divestment or transfer of debt, equity, and related derivative contracts for Investrade Portfoy Yonetimi Anomim Sirketi to non-U.S. persons. Both licenses remain effective until 12:01 a.m. eastern standard time on November 21, 2024, and require that any payments to blocked persons be made into blocked accounts in accordance with existing regulations.